Home - Your
stream of "The Collective Consciousness!" The central location for you
to see all of the status updates and +1's from all of the friends in
your circles.

Google +1 - The +1 button is shorthand for "this is pretty cool" or "you should check this out."Click
+1 to publicly give something your stamp of approval. Your +1's can
help friends, contacts, and others on the web find the best stuff when
they search.

Photos - This
is a stream of photos that have been posted from those in your circles,
photos from your phone, or photos that have been posted of you by
others. You can also use this as an option to store your photos
online.

Profile - This
is all about YOU (finally!!!). This will store all of your streams,
all of the information you have publicly shared (you'll see more because
it's you) and then a link to your Google Profile information.

Circles - A
place for your to categorize all of your friends into areas that are
actually relevant. These circles come in handy as you'll be able to
streamline who you share certain information with. For example, maybe
you want to share that you're reading a particular book... with circles,
you can share with your book-reading circle. You can have friends in
multiple circles.

Hangouts - With
Hangouts, the unplanned meet-up comes to the web for the first time.
Let specific buddies (or entire circles) know you’re hanging out and
then see who drops by for a face-to-face-to-face chat.
Until teleportation arrives, it’s the next best thing.